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Wednesday, 18 April 18
SHIPPING MARKET INSIGHT - STELIOS KOLLINTZAS
 The return of traders and charterers from the Easter festivities came along with a slight increase in activity across the edible oil markets. However, in most cases tonnage supply has been more than enough to meet demand and rates have been moving sideways as a result.
At the same time the CPP markets are not supporting the situation at all, while a trade war between China and USA is having its own effect in certain routes. Additionally, changes on import/export taxes in the regional palm oil market are also shaping the cargo flow.
As things stand, fundamentals in the veg oil market ex- South America are in charterers favour. CPP freights in the West have been in the doldrums and this is having an effect on veg oil freights as well, as several CPP owners try to find leverage on alternative markets. In addition, an increased import of CPP into Argentina/Brazil is building a long tonnage list in the South Atlantic. As if there were not enough negative factors in the market, the threat of China imposing import taxes on US agricultural products, including soy beans, is causing additional headache to traders.
The tax, which is considered a countermeasure on taxes already imposed by US on several products imported from China, is making traders cautious. This is to say that while soybean price from US has depreciated, the premium gained on the back of it by the soybean price from Argentina and Brazil, has in many cases made the product too expensive for the local crushers to buy. For the record, freight rates are still moving sideways at last done levels, USD mid-30s pmt bss 2/2 (South America/ India) on min 40,000mt.
Freight rates from the Black Sea are currently under pressure. While there is a steady flow of cargoes, the poor CPP market is pushing more Handy and MR tankers to look at loading sunflower oil from the Black Sea, however, shipments for the latter size are becoming scarcer lately. The 30-35,000mtons parcels to India are currently paying about USD high-30s/low-40s, while 35-40,000mtons parcels to China are paying about USD mid-40s, depending on port combination.
The long-haul palm oil market has generated some decent rates during the past month. However, given that the tonnage list for May is longer, unless there is an increase in activity, the positive trend is unlikely to continue. The rates for FOSFA MR ships on a TC Trip Far East/Europe are currently between 15,500-16,500 USD/pd.
Looking into the regional market, it is evident that the increased tax by 14% on India’s palm oil imports has had a significant impact on the country’s buying interest. On the contrary, Malaysia’s decision to suspend export taxes on CPO until the end of April has been partly offsetting the lack of activity in the region. Moreover China’s recently imposed 25% tariff on US soybean imports could generate a growth in demand for regional palm oil, as CPO can be used as an alternative in certain circumstances.
By Stelios Kollintzas
Specialized Products
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Tuesday, 26 July 11
UT'S SALES COULD REACH TO 8000 UNITS BY THE END OF 2011
COALspot.com - Sales of Komatsu heavy equipment in the domestic market in the first half of 2011 rose 59 percent to 4333 units compared to the same ...
Monday, 25 July 11
INDONESIA STATE ELECTRICITY COMPANY HAS BURNED 19 MMT OF COAL FOR FIRST HALF OF 2011
COALspot.com - Indonesia's State Electricity Company and other IPPs have burned 19 million tons of coal for first half of this year said,Pamudji Nu ...
Monday, 25 July 11
AKR CORPORINDO TO PRODUCE 0.3 MMT OF COAL BY DECEMBER
COALspot.com - PT AKR Corporindo (AKRA) began producing coal from its mine in Muara Teweh, Central Kalimantan. The company is targeting to pro ...
Sunday, 24 July 11
AN INDIAN PORT SETS A WORLD RECORD FOR CONVENTIONAL COAL DISCHARGE
COALspot.com - Krishnapatnam Port has set a World record for discharging 106,171 tons of steam coal in just 24 hrs using the conventional unloading sy ...
Saturday, 23 July 11
FAR EAST /SE ASIA ROUTE GAINED US$ 3000 HIGHER THAN LAST WEEK - VISTAAR
COALspot.com - The BDI further softened to by 2.22 pct and closed at 1323 points. The Cape and Panamax index also softened and closed at 1841 points ...
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- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Minerals Council of Australia
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- The University of Queensland
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
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